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Hemali is an emerging market economy where labor’s share of GDP is 60%. The long-term trend of labor growth is 2%. Capital investment has been growing at 1.5% and is expected to continue at that rate in the future. Hemali has increased the budgetary allocation for primary and secondary education. Accordingly, economists estimate that labor productivity will increase by 2% per year.
The potential GDP growth rate for Shefali is closest to: A. 5.5% B. 3.8% C. 4% |